Which of the following can be measured by the level of real GDP per person?
a. productivity and the standard of living
b. productivity but not the standard of living
c. the standard of living but not productivity
d. neither the standard of living nor productivity
c
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"Banks make a profit by paying depositors a high rate to attract funds and making loans at a low rate to encourage borrowing." Is the previous statement correct or not?
What will be an ideal response?
Net benefits of sellers represent their:
A) revenue. B) profits. C) sales. D) inventory.
In the modern U.S. economy, the typical unemployed person stays unemployed for
A) an amount of time that is hard to quantify. B) a long time during expansions and a short time during recessions. C) a relatively long time, over a year. D) a relatively short time, less than six months.
If the number of employees who quit, are fired, or retire increases while the hiring of new employees declines, this indicates that the
A) labor supply curve is shifting to the right. B) labor demand curve is shifting to the left. C) labor demand curve is shifting to the right. D) labor supply curve and labor demand curve are both shifting to the right.